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3 Best Ways to Name a Company

A name gives a business its identity. It is a strong determinant of the success or failure of your business. This is because through the name, people will be able to identify with your distinctive brand. When you are planning to start up a new company or introduce a new product into the market, then coming up with a unique brand name will go a long way in ensuring your success. Below are the three most effective methods to ensure you coin a great brand name.

Naming Company

1# What do you have in mind? Jot it down

Take a good look at your business or product and jot down on a piece of paper what you think of when you do that, in terms of words or even symbols.

If you need help with this, there are experts out there who can assist you. There are those who use very intricate systems to come up with business names; are also well-versed in the rules governing trademarks; and will give you reasons why you should select one name over the other. An important point to remember is that you might have to sacrifice a substantial amount of money to access their services. But this should not be hindrance as the benefits you will gain from having a unique name will eventually far outweigh the amount of money you will spend coming up with a good name.

2# Ensure the brand name is extraordinary

If it sounds wrong to you, then it will not sound right to others. Think of a name that will strengthen the main features of your business, which can be found in your mission statement.

If customers are able to identify what your business is about just from the name, then you will be saved from having to clarify more on it. The experts who come up with suchnames emphasize the importance of selecting actual words that can be easily comprehended by customers over fictional words, initials or numbers, especially for entrepreneurs.

3# Let your creative juices flow

One thing more that you have to ensure is that the name should not be too narrowed. For instance, naming your business after a certain State in the United States will lead to it being identified with that particular state. Therefore, the people outside that state will always refer to it as the business belonging to such a State, leading to them not identifying with it that easily.

So how can you come up with a name that has great significance, and at the same time, isunique and narrow? Names that describe something give an idea of the whereabouts as well as nature of a business, while names which suggest something give an idea of what the business is focused on.

Here are some more important points to remember:

  • Select a name that entices not only but your target consumers as well.
  • Make it short and easy to remember.
  • Make it comprehensible— even to the layman.
  • Inc. is only meant for incorporated companies.
  • Do some research on whatever keyword that you want your business to stand for.

Given these tips, you should be able to give your company a name that will reach out to your customers and leave a lasting impression in them. Come up with the best one and go conquer the world of entrepreneurship!

Author Bio:Clayton Tolley is the owner and founder of Brandsymbol, a global product naming company located in Charlotte, NC. Clayton has over 20 years experience working with the world’s top brands.

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